Choosing the right property manager for your rental home can have a huge impact on your success as a landlord. If you want to find a good property management company in Phoenix, AZ, you need to do a little research and ask a few of the right questions.
Property Management Focus
It’s very important to find a company that spends all its time doing full service property management. Stay away from the real estate agents who are more interested in sales than management. Those sales professionals are looking for a way to earn extra income and they aren’t experts in the property management field. You want access to the knowledge, skills and talents that are specialized to property managers. Sales agents might be able to find you a tenant and get your rent collected, but they won’t understand the Landlord Tenant Act as well as they should, and they won’t have the experience you need when it comes to processes and procedures. You need a manager who has dealt with HOA notices, city ordinances, financial reporting and landlord liability.
When you’re looking for a good property manager, find one who utilizes a specific and consistent set of practices that have been proven over time. You need a process for when rent is late and a procedure that explains security deposit collection and management. A good manager will understand the deadlines involved in compliance notices and what systems need to be in place to inspect a property and keep it maintained.
Work with a property manager who understands the rental market in Phoenix. You’ll need to know whether the MLS is used for marketing purposes and how a manager prevents long vacancies. Look for a property management company with a local presence and expertise in the Phoenix area.
When you hire a property manager, you release yourself from having to answer the frantic phone calls from your tenant in the middle of the night. Make sure you choose a management company that will respond to emergencies in a timely and efficient manner. Your property manager should have someone on call at all times and a good manager will also have relationships in place with vendors and contractors so emergency work can be taken care of quickly.
Pay attention to these specifics, and you’ll find a professional company that can help your investment grow. Contact Paramount Property Management and Realty if you have any questions.